Renasant (RNST) Hits New 1-Year High and Low at $45.39

Renasant Co. (NASDAQ:RNST) hit a new 52-week high and low during trading on Thursday . The company traded as low as $45.39 and last traded at $45.16, with a volume of 45981 shares trading hands. The stock had previously closed at $44.50.

RNST has been the topic of a number of recent analyst reports. Hovde Group set a $47.00 price target on shares of Renasant and gave the stock a “hold” rating in a research note on Friday, January 19th. BidaskClub lowered shares of Renasant from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Zacks Investment Research upgraded shares of Renasant from a “sell” rating to a “hold” rating in a research note on Wednesday, March 28th. ValuEngine upgraded shares of Renasant from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Finally, Sandler O’Neill reiterated a “hold” rating and set a $45.00 price target on shares of Renasant in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $46.00.

How to Become a New Pot Stock Millionaire

The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2,227.13, a PE ratio of 18.80 and a beta of 1.00.

Renasant (NASDAQ:RNST) last issued its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Renasant had a net margin of 18.19% and a return on equity of 8.19%. The business had revenue of $125.70 million for the quarter, compared to analyst estimates of $124.55 million. research analysts expect that Renasant Co. will post 3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, March 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.67%. Renasant’s dividend payout ratio (DPR) is 31.40%.

In other Renasant news, EVP James W. Gray sold 5,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $44.04, for a total transaction of $220,200.00. Following the transaction, the executive vice president now directly owns 50,003 shares in the company, valued at $2,202,132.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP R Rick Hart sold 10,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $43.17, for a total transaction of $431,700.00. Following the transaction, the executive vice president now owns 83,450 shares in the company, valued at $3,602,536.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,948 shares of company stock worth $1,048,833. Company insiders own 3.41% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. grew its position in Renasant by 5.4% during the fourth quarter. American International Group Inc. now owns 30,523 shares of the financial services provider’s stock worth $1,248,000 after buying an additional 1,558 shares during the period. Teachers Advisors LLC grew its position in Renasant by 2.1% during the fourth quarter. Teachers Advisors LLC now owns 77,601 shares of the financial services provider’s stock worth $3,173,000 after buying an additional 1,561 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in Renasant by 227.2% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,771 shares of the financial services provider’s stock worth $114,000 after buying an additional 1,924 shares during the period. HBK Investments L P grew its position in Renasant by 36.4% during the fourth quarter. HBK Investments L P now owns 7,500 shares of the financial services provider’s stock worth $307,000 after buying an additional 2,000 shares during the period. Finally, California State Teachers Retirement System grew its position in Renasant by 3.4% during the fourth quarter. California State Teachers Retirement System now owns 71,427 shares of the financial services provider’s stock worth $2,921,000 after buying an additional 2,331 shares during the period. Institutional investors own 65.39% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/04/21/renasant-rnst-hits-new-1-year-high-and-low-at-45-39.html.

Renasant Company Profile

Renasant Corporation operates as a bank holding company for Renasant Bank, which provides a range of financial, wealth management, fiduciary, and insurance services to retail and commercial customers. It operates through three segments: Community Banks, Insurance, and Wealth Management. The Community Banks segment offers checking and savings, money market, individual retirement, and health savings accounts, as well as safe deposit and night depository facilities.

Receive News & Ratings for Renasant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Renasant and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply